Windfall for Ørsted, But What's the Broader Impact? The recent ruling on the taxation of two UK offshore wind farms, Walney Extension and Hornsea 1, has provided a welcome boost to Danish energy giant Ørsted.
The advisory commission's favorable opinion validates Ørsted's approach to cross border taxation, potentially resolving long standing disputes over income sharing between Denmark and the UK.
The matter dates back to 2015 when Ørsted approached both countries' tax authorities seeking clarity on how to divide taxation rights.